Hi Alter,
I feel I have to sustain your concern.
I participated as a consultant to onboard an Italian soccer club in a big blockchain project last year.
The project is supposed to unlock different revenue streams for the club and increase active participation and engagement with the club fans.
There are basically tokens and other digital assets and recently they will drop the NFT produced by the club for the fans with various benefits.
The business model is very different from what I saw here, and as much as the NFT can be a good tech to change some status-quo and make viable things that before were not viable.
I believe that the NFT projects proposed on the forum are low-quality, borderline scams.
I saw a proposal from someone that claims a Ph.D. in mathematics which is not present in the archive and the education is not verifiable.
Or like you enlightened the page was canceled after the grants.
What I try to say is that NFT is not a real investment, but it is a mean to something else. Claiming - Drop 200 NFTs autogenerated with AI and reselling it for a higher price will hurt the brand and the legitimacy of the business especially if it is financed by the blockchain itself and the NFT results are pretty useless [note: Avatars, Pictures of various animals etc. which will be disappearing].
On this proposition in Near, we have a competitive disadvantage because Instagram will implement the opportunity to display NFT acting as a sort of profile collection or museum completely separated from the regular Feed. [check the link]
In this case, NFT will gain a lot of traction and can be displayed on a platform with 3 billion active users.
The details are simple. [Introducing Digital Collectibles: Supporting Creators and Collectors in Showcasing their NFTs on Instagram]
Title:
Description:
Creator:
Owner:
This activity opens a lot of doors and has a lot of potentials, but unfortunately near is not part of the initials and Meta took Ethereum which is the most popular as the main blockchain.
I believe NearProtocol has a competitive advantage with the opportunity to mint with lower fees and something like this is vital.
The most important thing about an NFT is its creator.
If an NFT is officially made by somebody or something that has credibility in the real world the NFT has also value and is worth collecting.
In the case, you exposed those NFTs have 0 value because are made by unknowns. I understand that this can be a strong critique of the operations but it is undeniably true, and it should be evaluated with a lot more care.
On the other hand, creating NFT projects which in reality are very cheap especially when are lower than 5k can affiliate and show the potential.
I was thinking to onboard → www.federcombat.it which is an Italian fight association that organizes tournaments and devolves prizes.
The 10 times Italian champion is the brother of a close friend and would be a great testimonial for the adoption of the “digital trophy.”
the issue remains the implementation because even if federcombat.it would be interesting in creating a digital trophy (paired with the real trophy), it should be possible to be shown on the official profiles of the fighters on Instagram.
And currently, I don’t think I can guarantee it so I stalled the proposal.
In conclusion, the NFT has potential especially when will be widely adopted but the infrastructure should follow up too and if next year the implementation on Instagram goes live we should adapt.
Please let me know what you think.